Business
Bank upgrades digital platforms as more people use digital apps
August 12, 2022, 8:19 pm
MANILA – An executive of Bank of the Philippine Islands (BPI) said additional features will be introduced to their digital platforms as more people continue to use digital applications despite the ability to go to the banks as the economy continues to reopen. In a virtual briefing on Friday, BPI… Read More
Toyota opens Asia’s first mobility solution firm in PH
August 12, 2022, 8:13 pm
MANILA – Japanese carmaker Toyota has chosen the Philippines for its first mobility solution company in Asia. Toyota Motor Philippines Corp. (TMP) inaugurated in Taguig City on Friday its new wholly owned subsidiary Toyota Mobility Solutions Philippines, Inc. (TMSPH), the first of its kind in… Read More
Stocks up on positive growth expectations, peso weakens
August 12, 2022, 7:37 pm
MANILA – The local stock barometer finished the week up partly on the positive growth expectations of Fitch Solutions on the domestic economy’s 2022 economic output but the peso weakened against the US dollar. The Philippine Stock Exchange index (PSEi) gained 0.28 percent, or 18.98 points, to… Read More
DTI eyes to rationalize list of basic goods, prime commodities
August 12, 2022, 7:07 pm
MANILA – After issuing the new suggested retail prices (SRPs) for basic goods and prime commodities, Department of Trade and Industry (DTI) Secretary Alfredo Pascual plans to review and streamline the list. Pascual told reporters Friday that he wants to rationalize the SRP list, focusing on… Read More
42% of major firms see Japan economy slowing down
August 12, 2022, 5:34 pm
TOKYO – Around 42 percent of major companies in Japan expect the country's economy to slow down over the next 12 months, up from just 5 percent one year ago, as they struggle to cope with surging commodity costs and the yen's weakness, a Kyodo News survey showed Thursday. The survey of 114… Read More
Globe to sell 7K towers with leaseback agreements
August 12, 2022, 5:14 pm
MANILA – Local telecommunications company Globe Telecom, Inc. (Globe) is planning to sell and lease back more than 7,000 of its towers across the country to various tower companies to raise capital while ensuring access to these necessary infrastructures. In a disclosure to the Philippine Stock… Read More
DTI eyes to tweak definition of MSMEs amid digitalization
August 12, 2022, 4:36 pm
MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual said there is an ongoing initiative to tweak the definition of micro, small and medium enterprises (MSMEs) amid changes in the way entrepreneurs do business because of digitalization. “We are trying to come up with a… Read More
Oil volatile over weak US demand data, easing supply concerns
August 11, 2022, 7:37 pm
ANKARA – Oil prices showed volatility on Thursday over weak demand signals that eased supply concerns after oil flow through the southern branch of the Druzhba pipeline through Ukraine resumed, having halted on August 4. International benchmark Brent crude traded at USD97.37 per barrel at 9:39… Read More
Digital transformation to spur construction industry growth
August 11, 2022, 7:17 pm
MANILA – Digitalization has paved the way for people to have faster and more efficient processes but smaller companies are facing some challenges in keeping up with technology, according to a report. A construction industry benchmark report released Thursday by Procore Technologies Inc., a… Read More
Retailers still bullish on growth outlook
August 11, 2022, 6:06 pm
MANILA – The Philippine Retailers Association (PRA) remains optimistic with the retail sector’s growth trajectory despite the rising inflation rate. During the 28th National Retail Conference and Stores Asia Expo 2022 in Pasay City Thursday, PRA president Rosemarie Ong said the sector is… Read More
Stocks, peso up on slower US inflation
August 11, 2022, 5:57 pm
MANILA – The local stock barometer ended higher Thursday partly due to the report of the slower July 2022 inflation in the United States while the peso gained against the US dollar. The Philippine Stock Exchange index (PSEi) gained 3.23 percent, or 208.84 points, to 6,680.68 points. All… Read More
Intellectual property filings in H1 2022 surpass pre-Covid level
August 11, 2022, 3:38 pm
MANILA – The Intellectual Property Office of the Philippines (IPOPHL) reported Thursday that the number of intellectual property registration from January to June 2022 increased from last year and even exceeded the pre-pandemic level. Intellectual property filings in the first half of the year… Read More
Institute to help crack down on substandard steel
August 11, 2022, 1:28 pm
MANILA – The Philippine Iron and Steel Institute (PISI) has vowed to continue supporting the government in cracking down on substandard steel in the domestic market. In a statement Thursday, PISI president Ronald Magsajo said the group will continue to conduct test buys across the country to… Read More
Fitch Solutions ups 2022 growth forecast for PH
August 11, 2022, 1:01 pm
MANILA – Fitch Solutions Country Risk and Industry Research hiked its 2022 economic growth forecast for the Philippines following the better-than-expected output in the first half despite challenges, such as elevated inflation rate. In a report released on Thursday, Fitch Solutions now sees a… Read More
Biz risk consultancy exec bullish on BOT Law amendment
August 10, 2022, 8:07 pm
MANILA – An official of a business risk and security consultancy firm is optimistic about the amendment in the country’s Build-Operate-Transfer (BOT) Law, citing its benefits to the government’s bid to hike infrastructure spending. Greg Wyatt, director of business intelligence of the… Read More
DTI capable of testing vape devices
August 10, 2022, 7:05 pm
MANILA – Department of Trade and Industry (DTI) Undersecretary Ruth Castelo said on Wednesday the agency is ready to test vaporized nicotine products or vape devices as the Vape Bill lapsed into law. As the law tasked the DTI to test vape products to ensure that they are safe to use, Castelo… Read More
Stocks end flat, peso sideways ahead of US inflation report
August 10, 2022, 6:43 pm
MANILA – The wait-and-see stance for the release of the US' July 2022 consumer price index (CPI) report resulted in the flat close of the local bourse’s main index and the sideways finish for the peso on Wednesday. The Philippine Stock Exchange index (PSEi) gained 0.04 percent, or 2.87… Read More
TDF rates rise anew, preference for 7-day facility up
August 10, 2022, 5:12 pm
MANILA – Preference for the shorter-dated term deposit facility (TDF) of the Bangko Sentral ng Pilipinas (BSP) was notable on Wednesday due to over-subscription unlike that of the 14-day TDF, but rates of both tenors rose anew. The average rate of the one-week facility rose to 3.5623… Read More
Chemical, food maker eyes strong earnings amid economic growth
August 10, 2022, 4:09 pm
MANILA – Food ingredients and plastics manufacturer D&L Industries expects sustained strong earnings results in the second half of the year, as the government’s shift away from a lockdown strategy bodes well for continued economic growth and business optimism. “Assuming there will be no more… Read More
PH to welcome Australian biz mission next week
August 9, 2022, 7:15 pm
MANILA – An Australian business mission composed of 50 delegates will be visiting the Philippines next week to explore trade, tourism, and investment opportunities here, the Board of Investments (BOI) and the Philippine Economic Zone Authority (PEZA) said Tuesday. The Australian business… Read More
